Macquarie to contact 160,000 clients over advice

By Elizabeth Redman

Everyone who has been a Macquarie Equities client since March 2004 will be contacted and invited to raise concerns about the quality of advice they received. "Clients who have suffered financial loss due to bad advice must be properly compensated," ASIC deputy chairman Peter Kell said.

Macquarie Equities has been forced to write to more than 160,000 letters to customers about the possibility they received flawed financial advice, as part of an enforceable undertaking from the corporate regulator.

Read more here: Business Spectator


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